Applied Materials (NASDAQ:AMAT) had its price objective boosted by investment analysts at KeyCorp from $54.00 to $70.00 in a note issued to investors on Friday, Marketbeat Ratings reports. The firm currently has an “overweight” rating on the manufacturing equipment provider’s stock. KeyCorp’s target price would suggest a potential upside of 12.27% from the stock’s current price. KeyCorp also issued estimates for Applied Materials’ Q4 2020 earnings at $0.83 EPS, Q1 2021 earnings at $0.94 EPS, Q2 2021 earnings at $1.06 EPS, Q3 2021 earnings at $1.12 EPS, Q4 2021 earnings at $1.04 EPS and FY2021 earnings at $4.15 EPS.
A number of other research firms have also recently commented on AMAT. Zacks Investment Research upgraded Applied Materials from a “sell” rating to a “hold” rating and set a $60.00 price target on the stock in a research note on Tuesday, October 29th. Wells Fargo & Co restated a “buy” rating and set a $62.00 price target (down from $68.00) on shares of Applied Materials in a research note on Monday, November 11th. BidaskClub raised Applied Materials from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 4th. DZ Bank lowered Applied Materials from a “hold” rating to a “sell” rating and set a $46.00 price objective on the stock. in a research report on Tuesday, October 29th. Finally, Deutsche Bank upped their price objective on Applied Materials from $47.00 to $52.00 and gave the stock a “hold” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $62.91.
NASDAQ:AMAT traded up $0.29 during trading hours on Friday, reaching $62.35. 10,412,800 shares of the stock were exchanged, compared to its average volume of 9,229,310. The company has a quick ratio of 1.72, a current ratio of 2.65 and a debt-to-equity ratio of 0.65. The business has a 50-day moving average of $53.95 and a two-hundred day moving average of $47.59. Applied Materials has a twelve month low of $28.79 and a twelve month high of $63.07. The company has a market capitalization of $52.62 billion, a price-to-earnings ratio of 20.51, a PEG ratio of 3.45 and a beta of 1.66.
In related news, Director Stephen R. Forrest sold 3,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $46.00, for a total value of $138,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Steve G. Ghanayem sold 25,727 shares of the stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $52.12, for a total value of $1,340,891.24. The disclosure for this sale can be found here. Insiders sold 53,945 shares of company stock worth $2,776,105 in the last three months. 0.44% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Northwest Investment Counselors LLC purchased a new position in shares of Applied Materials during the third quarter worth about $29,000. Next Capital Management LLC purchased a new position in shares of Applied Materials during the second quarter worth about $35,000. Horan Capital Advisors LLC. purchased a new position in shares of Applied Materials during the third quarter worth about $39,000. Sandy Spring Bank grew its holdings in shares of Applied Materials by 57.4% during the second quarter. Sandy Spring Bank now owns 787 shares of the manufacturing equipment provider’s stock worth $35,000 after purchasing an additional 287 shares during the last quarter. Finally, Coastal Capital Group Inc. purchased a new position in shares of Applied Materials during the second quarter worth about $36,000. 77.70% of the stock is currently owned by hedge funds and other institutional investors.
About Applied Materials
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits.
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